HC quashes I-T dept's criminal prosecution against Chidambaram family

The issue relates to alleged non-disclosure of overseas assets and bank accounts held by Chidambaram's family

In a relief to embattled Congress leader P Chidambaram, the Madras High Court on Friday quashed criminal prosecution against his family members in a black money case, holding that no such offence was made out against them.
 
The issue relates to alleged non-disclosure of overseas assets and bank accounts held by Chidambaram's wife Nalini, his son Karti and daughter-in-law Srinidhi. According to the I-T Department, the three had not disclosed a property they jointly owned in Cambridge in the UK worth Rs 53.7 million in their returns which amounted to an offence under the Black Money (Undisclosed Foreign Income